The New Nation - Internet Edition

UNB, Dhaka

The European Union observed that foreign direct investors are still hesitating to make a long-term investment in the prevailing situation in Bangladesh, saying that elections by December are an imperative for sustainable democracy in the country.

The remarks were made yesterday by EC Delegation head Ambassador Dr Stefan Frowein and other ambassadors of the European countries stationed here at a joint press conference at the Sheraton Hotel on the eve of the European Day today.

“The Foreign Direct Investment (FDI) is still hesitating. There is not enormous investment recorded. For FDI lot of money is available around the world that looks for opportunity to make money. They look for a situation that is stable and security of their money,” Frowein told a questioner.

He said the situation which Bangladesh is now passing through does not speak that everything is fine, everything is beautiful. “Nobody likes emergency, nor do foreign investors,” he said, adding: “You are going through a phase aimed at more democracy and more stable situation.”

Frowein said Bangladesh desperately needs foreign investment and it would come in a big way when the situation will be better politically and economically and investors would get the security of their money.

However, the Ambassador said there are some foreign investments in certain areas as well as local entrepreneurs make investment to increase their exports.

Welcoming the statements of the Chief Advisor and the Election Commission for free and fair election, he noted that an impressive progress has been made in preparing a new voter list.

The EU called upon the political parties to live up to their national responsibility and constructively participate in dialogue with the government and Election Commission to bring about effective party reforms ensuring free and fair elections and sustainable democracy.

On the state of emergency, Frowein said the EU encourages political dialogue and the lifting of the emergency as soon as the situation allows.

The EU also called for upholding the rule of law and ensuring that due process of law is followed in trial, in accordance with the international human-rights obligations of Bangladesh.

Frowein said a European Assessment Mission comprising legal, security and logistic experts would come to Dhaka next month for talk with the people concerned and assessing the pre-election situation.

On the Mission’s recommendation, the EC in Brussels will decide to send election observation team in three forms- Core, long-term and short-term teams.

The press conference was attended by French Ambassador Charley Causeret, Netherlands Ambassador Ten Tusscher, Italian Ambassador Itala Occhi, Danish Ambassador Einar Hebogaard Jensen, German Ambassador Frank Meyke, Swedish Ambassador Britt Falkman Hagstrom, Simon Lever of British High Commission and honorary consuls of other EU countries.

In reply to a question, the German Ambassador stressed the importance

of reforms in political parties to make the future democracy sustainable.

The French Ambassador said political parties should spell out their policies and vision on political, economic and social issues before the polls.

The Danish Ambassador said many foreign companies are investing money in IT and shipbuilding sectors, apart from apparel sector, in the country.

The Dutch Ambassador said they are concerned about the human-rights situation particularly in the CHT and said that the government should expedite the establishment of National Human Rights Commission.